Mashreq Bank has implemented a 2 Factor Authentication solution called CRYPTO-Shield 2FA from CRYPTOCard. Bulwark Technologies, IT security player and regional distributor of CRYPTOCard, facilitated the deployment of CRYPTOCard tokens at Mashreq Bank – reported AME Info.
It has been reported that CRYPTO-Shield consists of a suite of applications designed for implementing and operating passwords using two factor authentication enabling efficient password validation. CRYPTO-Shield provides Remote Access, Domain and Desktop Logon or Web Portal access with two-factor authentication. Each customer will be assigned a hardware token, which has a unique ID and barcode, against which the bank uses its software to set financial limits for these customers. The tokens are dispatched from Mashreq by person-to-person delivery in tamper-proof packages.
Yasmeen Javaid, divisional manager for Transactional Banking at Mashreq Bank, said: The Middle Eastern population has historically had a distrust of online security methods, such as keying in passwords into a web browser. However there has been a growing demand for online banking functionality that has brought a need to overcome this security hurdle. In the Middle East the banking sector is flourishing and highly competitive, and Mashreq’s corporate clients expect the latest innovations. Mashreq needed to provide a trustworthy ebanking security solution, reported the newspaper.
